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Morning Report - 23 April 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Marks And Spencer Group PLC 256.6 4.4%
Pershing Square Holdings LTD 3,970.0 4.1%
Sainsbury (J) PLC 269.0 3.9%
Vodafone Group PLC 69.6 3.9%
Tesco PLC 291.1 3.5%
Yesterday’s UK 100 Laggards Price (p) % Chg
Fresnillo PLC 587.0 -2.5%
Antofagasta PLC 2,201.0 -2.2%
Intermediate Capital Group PLC 1,960.0 -2.0%
Smith (Ds) PLC 354.8 -1.1%
Anglo American PLC 2,160.0 -0.9%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,024 1.6% 1.4%
DOW JONES INDUS. AVG 38,240 0.7% 13.1%
DAX INDEX 17,861 0.7% 12.5%
NIKKEI 225 37,552 0.3% 31.5%
S&P/ASX 200 INDEX 7,684 0.5% 4.8%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 82.85 -0.35%
Brent Crude (ICE) USD/bbl. 87.16 0.18%
Gold Spot USD/t oz. 2,301 -1.1%
Copper (Comex) USd/lb. 444 -1.4%
The UK 100 called to open +46 points at 8,069

4 Hours; 6 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +46 points at 8,069.  The UK 100 looks set to open higher once again, smashing through yesterdays fresh all time high, as Middle East tensions appeared to have simmered down for the time being.  Stateside yesterday it was a similarly positive story, The Dow Jones climbed 253.58 points, or 0.67%, to close at 38,239.98. The S&P traded 0.87% higher to finish the session at 5,010.60, while the Nasdaq advanced 1.11% to 15,451.31. Both the S&P 500 and Nasdaq ended a six-day losing streak.

 

 

Company News & Broker Comments:

Company News:

Anglo American posts that their Q1 copper production came in +11% YoY and Nickel -2% YoY.

 

Associated British Foods have raised their FY profit outlook as they reported a 39% jump in H1 profit. They now expect to deliver “significant growth” in both profitability and cash generation ahead of expectations at the start of this financial year.

 

JD Sports reaches agreement to acquire Hibbett in cash for $1.11bn.

 

Jupiter Fund Management assets under management on March 31st came in at £52.6bn, up from £52.2bn on Dec 31st.

 

Taylor Wimpey have reported that their key spring season was progressing as expected, even as affordability concerns and broader economic woes dent near-term recovery hopes. Their order book stood at £2.09bn as of April 21st, down from £2.38bn a year ago.

 

 

 

Broker Comments:

Jefferies Upgrades Reckitt Benckiser to Hold from Underperform (4 Buys / 6 Holds / 1 Sell)

Reporting Today:

UK

 

Associated British Foods

Jupiter Fund Management

Taylor Wimpey

 

 

US

 

General Electric

General Motors

PepsiCo

Philip Morris International

Spotify Technology SA

Tesla

Visa Inc Class A

 

Reporting Tomorrow:

UK

 

Fresnillo

Lloyds Banking Group

PZ Cussons

Reckitt Benckiser

abrdn

 

US

 

AT&T

Boeing

CME Group

Thermo Fisher Scientific

Ford Motor Co

International Business Machines

Meta Platforms

QuantumScape

ServiceNow Inc

Teladoc Health

 

 

 

In Focus Today:

German HCOB Composite PMI

German HCOB Manufacturing PMI

German HCOB Services PMI

EU HCOB Composite PMI

EU HCOB Manufacturing PMI

EU HCOB Services PMI

BoE’s Haskel speech

UK S&P Global/CIPS Composite PMI

UK S&P Global/CIPS Manufacturing PMI

UK S&P Global/CIPS Services PMI

BoE’s Pill speech

US S&P Global Composite PMI

US S&P Global Manufacturing PMI

US S&P Global Services PMI

US New Home Sales Change

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 25th April 2024:

 

Legal & General Group

St. James’s Place

ConvaTec Group

Spirax-Sarco Engineering

Rightmove

 

 

UK 250 companies going ex-dividend on 25th April 2024:

 

 

Bakkavor Group

Morgan Sindall Group

Tyman

Greggs

Derwent London

ME Group International

Morgan Advanced Materials

Bodycote

Foresight Solar Fund

Murray International Trust

City of London Investment Trust

Shaftesbury Capital

Schroder Oriental Income Fund

Bankers Investment Trust

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